Slim Expands Oil Portfolio with Two New Russian Fields in Gulf of Mexico
Grupo Carso, owned by Mexican billionaire Carlos Slim, is expanding its oil portfolio significantly. The company has reached an agreement to purchase Fieldwood Mexico, a subsidiary of Russian oil giant Lukoil. This acquisition grants Grupo Carso full control of the Ichalkil and Pokoch oil fields located in the Gulf of Mexico.
Details of the Acquisition
The deal was confirmed in a statement sent to the Mexican Stock Exchange (BMV). For a total of US $270 million, Carso will acquire 100% of Fieldwood Mexico, in addition to taking on US $330 million of the involved companies’ debts.
- Acquisition Price: US $270 million
- Debt Assumption: US $330 million
- Fields Acquired: Ichalkil and Pokoch
- Location: Gulf of Mexico
Background and Experience
Grupo Carso has over 18 years of expertise in both onshore and offshore drilling. The company has also made significant strides in platform construction services. The acquisition aligns with Slim’s broader strategy to enhance his oil investments, which already include contracts with Pemex surpassing US $6.4 billion.
Regulatory Approval
Before finalizing the purchase, Grupo Carso must secure approvals from multiple regulatory bodies. This includes authorization from Mexico’s National Antimonopoly Commission and Ministry of Energy. Additionally, the U.S. Office of Foreign Assets Control, which has imposed sanctions on Russia, must also consent.
Future Plans
In June 2024, Grupo Carso’s subsidiary Zamajal formalized a separate purchase involving Petrobal Upstream Delta 1, currently known as Mx Dlta NRG 1. This entity holds the remaining 50% stake in Contract Area 4, which would enable Carso to control the entirety of the field if approved.
Grupo Carso is recognized as one of Latin America’s most significant conglomerates. It manages various businesses spanning commercial, communications, industrial, and consumer sectors.
This acquisition represents a pivotal moment in Carlos Slim’s strategy to broaden his influence in the energy sector, marking a noteworthy expansion in the Mexican oil market.
